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| Litronic, Inc. |
| 2030 Main Street, Suite 1250, Irvine, CA 92614 * (949) 851-1085 |
| Business Description | The company provides professional Internet data security services and develop and market software and microprocessor-based products needed to secure electronic commerce and communications over the Internet. |
| Offering Information Company has | |||
| Trading As | LTNX (NASNTL) | Industry | High-Tech (SIC 3577) |
| Type of Stock Offered | Common Shares | Filing Date | 02/11/1999 |
| Domestic Shares Offered | 3,700,000 | Offer Date | 06/08/1999 |
| Foreign Shares Offered | 0 | Filing Range | $9.00 - $11.00 |
| Company Shares | 3,700,000 | Offer Price | $11.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $0.770 |
| Gross Proceeds | $40,700,000 | Selling | $0.450 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 9,040,631 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Bluestone Capital Partners, L.P. | Lead Manager | (212) 850-9428 |
| Pacific Crest Securities Inc. | Co-manager | (503) 790-0293 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1997 | 09/30/1998 | |||||
| Revenues | - | - | - | - | 151.329 | - | 62.636 |
| Income from Oper. | - | - | - | - | -8.087 | - | -5.926 |
| Net Income | - | - | - | - | -11.129 | - | -6.707 |
| E.P.S | - | - | - | - | -0.123 | - | -0.740 |
| Revenue Growth (%) | - | - | - | - | - | ||
| Net Income Growth (%) | - | - | - | - | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | - | - | - | - | - | - | - |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 09/30/1998 | Financial Ratios | ||||
| Total Assets | 66.09 | Current Assets | - | Current Ratio | - |
| Total Liab. | 22.36 | Current Liab. | - | Debt Ratio | 33.83% |
| Total Equity | 43.73 | Working Cap. | 12.95 | Debt to Equity Ratio | 0.51 |
| Cash | 15.78 | Return on Assets | - | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for reduction of debt, sales and marketing, product development and working capital and general corporate purposes. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Arent, Fox, Kitner, Plotkin & Kahn |
| Bank's Law Firm | Tenzer, Greenblatt, Fallon & Kaplan |
| Registrar/Transfer Agent | Continental Stock Transfer & Trust Co |
| Auditor | KPMG LLC |
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| Additional Underwriter Compensation |
| Warrant to purchase 300,000 shares/units at $300.00 per share/unit. |